Sunday, 22 November 2015

How Car Valuation Industry Have Changed in India over a Decade

India has always been a dynamic country and yet among this dynamism it has always maintained its policy being a unity in diversity. This diversification not only confines itself to the borders of religion, language, caste but is also in the league of cars. It is seen that normally it has been a fashion to buy new cars and get rid of the older one. But there are a lot of changes that have been seen and marked over the past decade in the car valuation industry and hence the changes have rather made it an easier affair to do. A lot of factors have led to the changes, and this has made brought out a new definition to car valuation India and thus has made it a better market.

Car Valuation

Parameters for the changes

Increase in the demand for cars:

Primitively it was seen that the number of cars and the demand for cars was being confined to very fewer numbers. For valuation, one had to limit the ideas to a certain level of service points that did the purpose of valuation of a car and dealt with that. The passing of years has paved the way to globalisation and urbanisation. This leads to the increase in the standard of living of the people and hence the increase in the number of cars. The increase then leads to the growth of new and improved and increased demand for the cars.

Increase in the number of users:

Earlier, not many people had the chance and luck of owning a car. This phenomenon was restricted to a few and hence the number of users was a less. The less number of users led to a lack of a good car valuation point. The process would be done in the primitive method and hence would fail to satisfy the costumers. But amazingly the number of users has boomed and flashed like a sonic wave and the number has risen to a completely next level.

Increase in the facilities:

The number and the availability of facilities have increased rapidly. Earlier when it was very less number of agents that could provide financial help and services, today has boomed in a great way. Today, a lot of agents offer aid financially and loans and that at a low rate of interest that leads to the number of car buyers in the country. It was just a matter of ten years when the number of people going for extravagant cars was less. Similarly, the number of companies manufacturing them is the growth of the country’s economy and the environment that allows the frequent changes too.

Making of better and convenient cars:

Back in the 90s there were some very primitively used car models and some old versions of them which today have become difficult to find. But today the market has taken a complete turn. Today the cars being manufactured are of much better quality and the cars are chosen more often. Cars of today are more likely to take credits in efficiency, and they offer a much higher mileage that leads to more users opting for them. Today what counts are the comfort and the efficiency of the car? so the ones offering better points in these segments are more often chosen. Almost every user and the owner would look forward to such points and the coming up of a number of such comfortable, and convenient cars make the number boom more and hence the increase in the valuation.

Eco-friendly:

In this over polluted condition, everyone has become careful about the environment they survive in. So in the points that one considers for the cars and automobiles, he makes sure that the car doesn’t pollute the environment and checks whether it is eco-friendly or not. This goes for the ones looking for dealers of the pre-owned cars too. The valuation of the cars goes with the property of its eco-friendly nature too. This point was not being taken into account during the earlier days some years ago but today it is one of the most important points for most of the users.These are some of the very important points that have changed the complete scenario of the car valuation in the country and thus have made the market fair and better.